The sorghum market volume in Nigeria remained relatively stable between 2014 and 2023, with minor fluctuations. Key variations include an increase in 2015 and 2016, followed by a decline in 2018 and 2020. Recovery was observed in 2021 with significant growth of 5.47%, and the market regained stability from 2022 onwards. The Compound Annual Growth Rate (CAGR) over the past five years up to 2023 stands at 0.33%, indicating moderate but steady growth.
Future trends to watch for include potential impacts of climate change, advancements in agricultural technology, and fluctuations in local and global demand. It's essential to monitor policy changes and economic conditions which could influence production volumes.
